The Breakthrough Energy Coalition has committed to invest more than $1 billion in Breakthrough Energy Ventures (BEV), an investor-led fund that will finance emerging energy innovations with the goal of reducing global greenhouse gas emissions to near-zero.
Led by Chairman Bill Gates, Breakthrough Energy Ventures aims to engage in traditional venture investment in any energy market segment, collaborating with other investors, governments, research institutions and corporate partners and attracting scientists, entrepreneurs, and private sector experts.
The BEV fund focuses its investments in Mission Innovation* countries investing patient capital (20-year horizon) in companies and technologies that show sizeable promise for moving the world toward an emission-free future.
Mission Innovation is an international collaboration made of 22 countries and the European Union to accelerate the pace of clean energy innovations through smart government investment over five years.
In addition to the formation of the BEV, the BEC has shared its “Landscape of Innovation“, which illustrates the universe of technologies that public and private investors might support in order to drive to a world of zero carbon emissions.